KBC Group NV boosted its stake in shares of Axis Capital Holdings Limited (NYSE:AXS – Free Report) by 1,153.7% in the first quarter, Holdings Channel reports. The institutional investor owned 31,743 shares of the insurance provider’s stock after purchasing an additional 29,211 shares during the period. KBC Group NV’s holdings in Axis Capital were worth $3,219,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Activest Wealth Management bought a new stake in Axis Capital in the fourth quarter worth $30,000. Assetmark Inc. grew its stake in shares of Axis Capital by 80.8% in the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 177 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new position in shares of Axis Capital during the fourth quarter valued at $47,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of Axis Capital during the fourth quarter valued at $51,000. Finally, DV Equities LLC purchased a new position in shares of Axis Capital in the 4th quarter worth about $54,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.
Analyst Ratings Changes
AXS has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on shares of Axis Capital from $119.00 to $134.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods raised their price objective on shares of Axis Capital from $126.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. UBS Group lifted their target price on shares of Axis Capital from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Bank of America dropped their target price on shares of Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, Mizuho upped their target price on shares of Axis Capital from $137.00 to $142.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $124.45.
Insider Activity at Axis Capital
In related news, Director Henry B. Smith sold 2,542 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total transaction of $250,869.98. Following the completion of the sale, the director owned 46,347 shares in the company, valued at approximately $4,573,985.43. This represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.
Axis Capital Trading Up 1.6%
Shares of AXS stock opened at $116.45 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.25. Axis Capital Holdings Limited has a 12-month low of $88.07 and a 12-month high of $116.95. The stock has a market capitalization of $8.58 billion, a P/E ratio of 8.68, a P/E/G ratio of 3.35 and a beta of 0.49. The firm’s 50 day moving average is $105.19 and its 200 day moving average is $102.95.
Axis Capital (NYSE:AXS – Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.09. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.72 billion. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.17 EPS. Research analysts expect that Axis Capital Holdings Limited will post 13.23 earnings per share for the current year.
Axis Capital Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.5%. Axis Capital’s payout ratio is presently 13.11%.
Axis Capital Company Profile
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.
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